Fruit Yogurt Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Fruit Yogurt Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The fruit yogurt market is projected to grow at a CAGR of 7.0% during the forecast period (2020 - 2025).

Key Highlights

• The demand for fruit yogurt is fueled by the availability of numerous flavors, and growing consumer indulgence for exotic flavors, coupled with significant investments by manufacturers. This prompts the manufacturers to develop products with innovative flavors to cater to the surging demand.
• Globally, with the growing trend of veganism has to the demand for non-dairy-based yogurt products, thus, the segment is anticipated to grow at a faster rate. Owing to the large retail space and convenient conventional services, supermarkets/ hypermarkets remain as one of the most preferred points of sale for fruit yogurt.
• The global fruit yogurt market is highly competitive with the presence of various global and regional players, including several private label brands. However, the major players operating in the market are Danone, General Mills, Chobani, and Nestle, among others.

Key Market TrendsGrowing Demand for Probiotic Food and Beverages

The high prevalence of digestive disorders drives the demand, for probiotic foods, across various consumer groups, globally. Yogurt, in both spoonable and drinkable form in different flavors, is the most preferred probiotic food. Therefore, the increased penetration of dairy, as well as non-dairy fruit yogurt, has led key players across the world to constantly invest in R&D activities, for product innovation with product claims: low/no sugar, in order to capture the evolving consumer trend and gain a competitive advantage in the probiotic market. Recently, in January 2020, Stonyfield Organic introduced its range of drinkable probiotic yogurt, Daily Probiotics available in two variants Blueberry Pomegranate and Strawberry Acai, the product aids in both immune and digestive health of the consumer. Thus, the fruit yogurt market is growing at a significant rate owing to the rising demand for probiotic food and beverage.

Europe is the Largest Market

Europe holds a prominent share of the fruit yogurt market driven by consumer inclination towards an innovative healthy diet. The fruit yogurt incorporates fruits that act as a source of both nutrients as well as flavor to the widely accepted product in the region. The leading player operating in the market are highly investing in product innovation in order to cater to improved products to the European market. As per the consumer mapping done by the company such as Arla Foods amba, consumers recognize that the average fruit yogurt in Germany contains around 14g of added sugar which is leading to a decline in the category. Therefore, in 2018, Arla introduced Arla Bio Nur in the Germany market, which has no added sugar and contains between 6.8g and 7.7g of sugar, depending on the fruit variant, and consists of only natural ingredients. Additionally, one of the market leaders, Danone has too led the way with its release of Oikos in the region, as the product is incorporated with new flavors, including fruit fondues – fruit fondue with orange, fruit fondue with cherry and fruit fondue with red berries. Thus, triggering the fruit yogurt market in the region.

Competitive Landscape

The fruit yogurt market is highly competitive with major players, namely Danone, and General Mills Inc., holding prominent shares in the global market due to their extensive presence. Whereas the remaining share has been held by various local and international players, predominantly by Chobani LLC, and Nestle SA. Product innovation and development is the most adopted strategy by the players operating in the market studied. With the increasing number of health-conscious consumers across the world, major players are adopting various strategies to draw the attention of consumers, by introducing fruit yogurts with clinical claims, such as non-GMO certified and organic to capture the larger share of the market studied.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned
 
Litehouse Inc.
Chobani Global Holdings, Inc.
General Mills Inc.
Danone S.A.
Ripple Foods PBC.
Forager Project
Nestle S.A.
Epigamia

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